Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.7.0.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Sales    
Product revenue $ 670,176 $ 383,396
Licensing revenue 138,000
Total sales 808,176 383,396
Cost of goods sold    
Product costs 481,349 221,007
Total cost of sales 481,349 221,007
Gross profit 326,827 162,389
Operating Expenses    
Research and development 686,095 1,694,521
Sales and marketing 1,967,786 1,026,211
General and administrative 1,888,155 3,359,802
Total operating expenses 4,542,036 6,080,534
Loss from operations (4,215,209) (5,918,145)
Other expense    
Interest expense, net (2,723,187) (447,777)
Change in fair value of derivative liability (1,013,901)
Derivative expense (2,464,439)
Loss on settlement of liabilities (6,084,353)
Loss before provision for income taxes (16,501,089) (6,365,922)
Provision for income taxes 800 1,375
Net loss $ (16,501,889) $ (6,367,297)
Basic and diluted loss per common share $ (0.19) $ (0.35)
Weighted average shares used in computing net loss per common share Basic and diluted 85,506,211 18,346,844